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June 18, 2014
08:14 EDTEMKREMCORE awarded long-term supply contract by Space Systems/Loral
EMCORE announced that it has entered into a new long-term supply agreement with Space Systems/Loral, to manufacture and deliver high-efficiency, multi-junction solar cells for SSL's satellite programs. This new contract follows several other earlier long-term supply agreements between SSL and EMCORE. The solar cells will be designed and produced at EMCORE's state-of-the-art manufacturing facility located in Albuquerque, New Mexico, USA. EMCORE has been supplying SSL with solar cells for its satellite programs for 15 years. In early 2013 EMCORE reached a milestone of delivering its 1 millionth high-efficiency, multi-junction solar cell to SSL, which will ultimately represent more than a megawatt of power delivered into space.
News For EMKR From The Last 14 Days
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September 29, 2014
10:00 EDTEMKROn The Fly: Analyst Downgrade Summary
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07:34 EDTEMKREMCORE downgraded to Hold from Buy at Needham
Needham downgraded EMCORE to Hold from Buy based on balanced risk/reward.
September 26, 2014
13:01 EDTEMKRVeritas Capital reports 11.7% stake in EMCORE
September 18, 2014
11:39 EDTEMKREMCORE gaps up, trends down through session
The shares gapped up at the open at $5.90, marking the session high and a new 52-week high. Since hitting the high the stock has been steadily trending down, last at $5.43. At that price next support is at $5.24, a prior pivot high on a closing basis. Resistance is at $5.66.
11:27 EDTEMKREMCORE soars after sale of space photovoltaics business, CEO change
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08:59 EDTEMKROn The Fly: Pre-market Movers
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06:30 EDTEMKREMCORE price target raised to $10 from $6.50 at B. Riley
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September 17, 2014
19:07 EDTEMKREMCORE up 30% after-hours following Space unit sale, CEO transition announcement
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18:35 EDTEMKREMCORE to resume trading at 7:00pm ET
Quotes resume at 6:55pm ET.
18:31 EDTEMKREMCORE announces CEO transition plan
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18:28 EDTEMKREMCORE sells space photovoltaics business to Veritas Capital for $150M in cash
EMCORE announced that it has entered into a definitive agreement with an affiliate of private equity firm Veritas Capital, under which an affiliate of Veritas has agreed to purchase EMCORE's Space Photovoltaics business for $150M in cash. The transaction is subject to approval by EMCORE's shareholders and other customary closing conditions and is currently expected to close in December 2014 or January 2015. The transaction is not subject to a financing condition. In connection with this transaction, an affiliate of Veritas has entered into a voting agreement with certain shareholders of EMCORE, including certain directors and officers of the company, that control in the aggregate approximately 11% of the voting power of the company, under which they have agreed to vote their shares in favor of the transaction. EMCORE's Space Photovoltaics business was founded in 1998 and is based in Albuquerque, NM. The business provides products for space power applications including high-efficiency multi-junction solar cells, coverglass interconnected cells and complete satellite solar panels, along with terrestrial applications, including high-efficiency multi-junction solar cells for concentrating photovoltaic power systems.
18:20 EDTEMKREMCORE trading halted, pending news
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